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The Kogan.com Ltd share price is crashing back to earth

Shares in online retailer Kogan.com Ltd (ASX: KGN) tumbled 16% to $7.71 this morning after the group posted an operating cash loss of $635,000 for the quarter ending March 31 2017.

Zooming out a little Kogan has posted operating cash inflows of $2.6 million for the first 9 months of the year, with the company attributing the weak Q3 cash flow to timing differences between receivables and payables.

The discounted consumer goods specialist also posted 46.1% revenue growth over the quarter, with 1.28 million active customers as at March 31 2018.

“The business is poised to continue its growth trajectory into the seasonally strong end-of-financial year quarter” its eponymous CEO boasted, although investors are now following his lead in dumping stock after a barnstorming run.

Kogan is a well run business, but the stock may see more volatility as it operates on thin margins with competition likely to heat up eventually.

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Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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